Motorists in for massive drop in petrol price – AA
Motorists can expect a massive drop in the petrol price next month, as South Africans reap the benefit of the weak oil price and the strengthening rand in the face of Brexit, the Automobile Association (AA) announced on Friday.
“The mid-month data sees petrol poised for a drop of up to 83 cents a litre, with diesel set for a reduction of 45 cents and illuminating paraffin around 42 cents a litre down,” the AA said in a statement.
It was commenting on unaudited mid-month data released by the Central Energy Fund.
"After initially weakening in the wake of the UK referendum result in late-June, the rand has since strengthened steadily," the AA said.
"At the same time, international petroleum prices have retreated on concerns over economic uncertainty following the vote. As a result, fuel prices are showing favourable gains."
Despite this positive picture, predicting the likely position at the end of July remains complex, the AA said.
"The underlying trend has been towards higher fuel prices over the past months as the rand weakened and international oil prices climbed.
“It is not yet clear what effect recent events will have on this trend, and it would be premature to assume it has been disrupted," it said.
"Accordingly, we advise motorists to maintain a conservative approach, and not take on additional expenses in the expectation of sustained fuel price drops," it said.
Motorists have endured a series of petrol price hikes since the year started.
This month petrol increased by 11 cents per litre, while diesel went up by up to 42c/l.
Last month the pump price of petrol increased by 52 c/l for all grades, while diesel went by a whopping 76c/l.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
Rio Carb is an OEM (Original Equipment Manufacturer) of R-C700 Chromium Carbide (CrC) alloy clad wear plates and pipes used for heavy materials...
VISIT SHOWROOM
SmartMine IoT has been developed with the mining industry in mind, to provides our customers with powerful business intelligence and data modelling...
VISIT SHOWROOM
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
